by Advanced ceramics are non-metallic solids prepared by high-temperature processes from inorganic non-metallic materials such as metals, non-metals, metalloids, or a combination of these materials including carbides, nitrides, oxides, and borides. Advanced ceramics offer unique properties that make them thermodynamically and chemically stable under harsh operating conditions such as high temperatures, corrosion, and wear. Key products and applications of advanced ceramics include electrical & electronics, transportation, medical, energy & power, defense & security, and industrial goods. Growing electronic components and equipment demand from consumer electronics and electric vehicles is stimulating demand for insulation ceramics and transducers.
The global advanced ceramics market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The accelerating demand from the electronics industry is expected to be a major driver for the growth of the advanced ceramics market. Ceramic materials find extensive applications in a wide range of electronic products owing to their unique properties including high strength, wear & corrosion resistance, electrical & thermal insulation. Rapid technological advancements coupled with miniaturization of electronic components have boosted the adoption of advanced ceramics such as aluminum nitride, silicon nitride, and alumina in integrated circuits, chip capacitors, dielectric substrates, piezoelectric actuators and sensors. Moreover, increasing demand for consumer electronics such as smartphones, laptops, tablets along with electric vehicles is augmenting the market growth. However, high raw material and processing costs associated with advanced ceramics compared to metals and plastics poses a challenge to market growth.
Segment Analysis
Advanced ceramics can be segmented into monolithic ceramics, ceramic matrix composites, ceramic coatings and others. Monolithic ceramics dominate the advanced ceramics market owing to its wide application in electrical & electronics, transportation and medical industries. Monolithic ceramics provide high strength, hardness and resistance to heat & corrosion making them preferred choice for several industrial applications.
PEST Analysis
Political: Regulations regarding usage of advanced materials in medical devices and automotive industries influence the demand.
Economic: Growing industries like electronics, automotive drives the demand. Developing economies exhibiting high growth rates augment the market expansion.
Social: Increasing demand for advanced ceramics from application industries. Usage in areas of healthcare, energy conservation gains social importance.
Technological: Developments in material formulation, processing techniques help produce advanced ceramics with enhanced properties. Usage of 3D printing, AI in R&D strengthens technological capabilities.
Key Takeaways
The Global Advanced Ceramics Market Share is expected to witness high growth over the forecast period. The global advanced ceramics market is estimated to be valued at US$ 91617.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Asia Pacific dominates currently owing to large production bases and growing application industries in countries like China and India. Ceramic coatings segment is witnessing fastest gains driven by expanding thermal barrier coatings usage in aviation turbines.
Key players operating in the advanced ceramics market include 3M (Ceradyne Inc.), AGC Inc., Applied Ceramics, Blasch Precision Ceramics Inc., Ceramtec, COI Ceramics Inc., Coorstek Inc., Corning Incorporated, International Ceramics Inc., Kyocera Corporation, MARUWA Co. Ltd, Materion Corporation, McDanel Advanced Ceramic Technologies, Morgan Advanced Materials, Murata Manufacturing Co. Ltd, Rauschert GmbH, Saint-Gobain, Small Precision Tools Inc., Vesuvius, and Wonik QnC Corporation. The players focus on new product development and capacity expansions to gain higher share.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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